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U.S.–Iran Strikes Escalate: What It Means for Your Gas Bill and Savings

  ⚡ BREAKING · MAY 8, 2026 By MoneySavings.ca Editorial Team   |  May 8, 2026  |  5 min read The Strait of Hormuz, photographed from space. Approximately 20% of the world's oil supply passes through this narrow waterway. (Image: NASA / Public Domain) American warships were attacked in the Strait of Hormuz on May 7, 2026 — and the U.S. military fired back hard, striking Iranian ports at Qeshm and Bandar Abbas. For Canadians, this isn't just a distant war story. It's a pocketbook issue. 20% of global oil transits the Strait of Hormuz every day $94 projected WTI crude price per barrel if closure continues (CEPR, 2026) 5% of normal shipping traffic still moving through the Strait What Happened — and When The crisis didn't begin overnight. On February 28, 2026, the United States and Israel launched coordinated strikes against Iran, targeting nuclear infrastructure and senior military leadership — including Supreme Leader Ali Khamenei, who was killed in the strik...
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China's Lunar New Year Travel Rush: A Record-Breaking 9 Billion Trips Expected

 

As the Lunar New Year approaches, China's annual travel rush, known as Chunyun, has kicked into high gear. This 40-day period, which began on January 14, 2025, is expected to see a record-breaking   9 billion trips. This massive movement of people is the world's largest annual migration, with most journeys made by car.

The Lunar New Year, marking the start of the Year of the Snake, falls on Wednesday, with New Year's Eve on Tuesday reserved for family gatherings and traditional fireworks displays. The travel rush will peak over the weekend, with 510 million trips by train and 90 million by air.

While the festival has traditionally been a time for families to reunite, rising prosperity has led many to travel overseas, with cross-border trips expected to rise by nearly 10%. Despite the economic challenges, the festive spirit remains strong, with temple markets and other traditional events drawing millions of visitors.

This year's extended public holiday, from January 28 to February 4, aims to boost consumer spending and support the economy. As travelers rush to their hometowns, the excitement and anticipation for the Year of the Snake celebrations are palpable.






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